• Sun. Jul 14th, 2024

Microstrategy Pumps in $615 Million BTC into it’s Treasury

Maria Bartiromo

ByMaria Bartiromo

Dec 28, 2023

The business intelligence company MicroStrategy, known for its aggressive Bitcoin treasury strategy, has added $615 million more worth of Bitcoin to its portfolio, increasing its holdings in cryptocurrencies once more.

The company’s co-founder and CEO, Michael Saylor, made this information known on his X social media handle. This action strengthens the company’s position as a significant Bitcoin holder, as its total BTC holdings surpass $8.3 billion at press time or roughly 0.9% of the flagship cryptocurrency’s total supply.

Under CEO Michael Saylor, MicroStrategy’s regular and significant Bitcoin investments have defined the company’s financial approach. With over $8.3 billion in Bitcoin holdings as of the most recent update, MicroStrategy is among the biggest institutional Bitcoin holders.

BTC Grows By 160% in 2023, Growing Institutional Interest Linked

The most recent Bitcoin acquisition by MicroStrategy has occurred during a period of rising market sentiment toward cryptocurrencies in general and Bitcoin in particular. The bitcoin price has increased by over 160% this year, an event attributed to growing institutional interest and a wider market recovery. MicroStrategy’s decision to increase its holdings is probably influenced by Bitcoin’s strong performance, which is consistent with its strategic goal.

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Sayor, in his post on X, told his  3.2 million online followers that his company currently possesses 189,150 BTC, which it acquired for $5.9 billion at $31,168. The continued success of MicroStrategy’s strategy is believed to probably impact other businesses thinking about making similar decisions in the changing corporate Treasury and digital asset landscape.

Recent observation has it that the decision by MicroStrategy to devote a sizeable portion of its Treasury to Bitcoin has drawn praise and criticism. Skeptics raise concerns about the risks involved in holding a volatile asset, while supporters commend the company for realizing the potential of cryptocurrencies.

Microstrategy Continues its Age-long Practice of Stacking BTC

From August 2020, when MicroStrategy first gained notice for using Bitcoin as a reserve asset, the company has amassed sizeable cryptocurrency holdings through several buy-rounds. The crypto community and conventional finance circles have taken note of the company’s proactive use of Bitcoin as a treasury reserve.

Because of the close relationship between the company’s success and Bitcoin’s performance, MicroStrategy’s financial situation may be impacted by any notable fluctuations in the cryptocurrency’s price.

Investigations show that Microstrategy has previously acquired 174,530 units of BTC at 15.64 million shares and had once sold 1.077 million new shares at $610 million. The company later added $617 million worth of Bitcoin, increasing its BTC shares from its initial  0.011159 BTC – 0.011313 BTC per share.

Microstrategy’s BTC Holds $8.3 billion, Followed by Marathon Digital Holdings

The record shows that Microstrategy’s BTC holdings are $8.3 billion, representing 0.9% of cryptocurrency total supply. Another big-time BTC holder and a publicly traded company, Marathon Digital Holdings, has in their possession 13,396 BTC, while Tesla, the biggest electric car manufacturer, is in possession of  9,720 BTC.

However, Adam Back, the CEO and founder of Blockstream, stated on his X handle that Microstrategy has been funding the company’s Bitcoin purchases by selling new company shares and diluting the existing company shareholders.

Back had posted that this action’s effect led to the 1.4% anti-dilutives in BTC. Meanwhile, Routers has currently reported from the latest regulatory filing that Microstrategy and it’s subsidiaries have bought around  14,620 BTC at about $42,110 around November 30th and December 26th.

Maria Bartiromo

Maria Bartiromo

Maria Bartiromo is a renowned news writer and journalist, celebrated for her insightful reporting and authoritative voice. With a career spanning years, she has established herself as a trusted source of accurate and comprehensive news analysis, keeping readers informed on vital global developments.

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